Once a bull is castrated, it loses its value and its reason to stay alive.
It doesn’t turn into a cow that can produce milk or calves. It is suddenly worth more dead than alive, good for nothing but meat.
The castrated bull creates problems for linguists, accountants and politicians. What do you call a bull that has lost its essence? Is it an asset or a liability? Is it capitalist, socialist, or communist?
In Cuba, a communist nation, the government owns only 20% of the real estate. In Syria, a socialist country, the government owns only 30% of the real estate. In China, a communist nation, the government owns only 17% of the real estate and it lends money to rich, capitalist America where the government now owns 50% of the real estate, after taking over Fannie Mae and Freddie Mac. However, in those socialist and communist countries, health services and education are provided free of charge, and people’s housing is subsidized. The word “foreclosure” is not even part of their vocabulary!
The three and a half million people who’ve sat over the past two years and watched sheriff deputies carry their belongings to the curb while executing foreclosure on their homes, don’t seem too worried about whether these deputies were capitalist, socialist or communist. And I haven’t seen any of them shouting USA…USA…!
As the British government moved fast to stop the collapse of its financial markets and nationalized the three biggest banks, they didn’t seem too worried about whether they were going to be called socialist or communist. But they knew if they didn’t do it, millions of their citizens would become homeless.
Why didn’t Wall Street companies object to the $700 billion rescue package, calling it socialism? Why didn’t the mainstream media raise hell when the federal government took over Fannie Mae and Freddie Mac? Why is the McCain campaign calling Obama’s programs socialist? Would the four million people who have been behind in their mortgage payments since June mind if they get relief in socialist or communist money?
President Bush and Henry Paulson were apologetic about bailing out Wall Street. They said they believed in the free market economy, that the bailout was just a temporary measure, and that the government won’t be sitting in on board meetings dictating decisions. They’re still living in denial and want to convince people that if it looks like a bull and acts like a bull, then it must be a bull!
David Walker, the 7th comptroller of the federal government, went around the country for three years giving speeches about how this debt-money system is unsustainable, and would come crashing down. When nobody paid him serious attention after his testimony in Congress, he resigned his position. He said that every newborn baby is carrying a national debt of $142,000 and every working man and woman is carrying a national debt of $360,000.
Everybody wants to know the solution, the way out. To know the solution we have to understand the root of the problem. In the early 1900s J.P. Morgan and the Rockefeller’s National City Bank started rumors that certain banks were insolvent, lending more money than their deposits could back, which caused a public panic and a stampede on the banks. That caused massive bank failures. The Congress formed a committee headed by Senator Nelson Aldrich, a business associate of J.P. Morgan and father-in-law of John D. Rockefeller, to study the situation and give recommendations for a solution. G. Edward Griffin wrote a book titled “The Creature from Jekyll Island,” detailing how Senator Aldrich met with Abraham Andrew, assistant secretary of treasury, Paul Warburg from Kuhn, Loeb & Co., representing the Rothschild’s Bank of London, Frank Vanderlip, president of National City Bank, Benjamin Strong, head of J.P. Morgan Trust Co., Henry Davison, partner of J.P. Morgan and Charles D. Norton, president of First National Bank of N.Y. The meeting was held in secrecy in November 1910. For nine days they hammered out the details of an act that would eventually pass December 22, 1913 as the Federal Reserve Act.
The Federal Reserve Bank (known as the Fed), and the Internal Revenue Service were both established in 1914. The theory was that the IRS would project what the taxes from income are going to be, and that would be the federal government’s budget. But if the government exceeded the budget, then the Fed would extend a credit against a Treasury Bond, and the IRS would increase taxes gradually to cover the deficit. 1913 was the last year the federal government had a surplus in its budget!
Money creation works like this: The Treasury Department issues a bond for say $10 billion. The Fed writes them a check for that amount less the interest. The check is written on an account that has nothing in it. At the cost of seven cents per bill they print the money to cover it! The bond becomes an asset of the Fed that they can leverage by 15 times, so they print 150 billion to lend to bankers at a rate they set, called the prime lending rate, currently 1.5%. The bankers take that money and they lend to corporations and to people in the form of credit lines and mortgages with a higher interest rate. A hundred thousand dollar mortgage costs the Fed $70 to print, and whenever a property is sold, the seller loses the ownership to the buyer, who in reality doesn’t own it, because the Fed owns it through the banker or the mortgage company. At a rate of 7.25 % compounded interest over 30 years, the buyer ends up paying $270,000 for a debt that cost $70 to generate! And they have the belligerence to say that the fall of the housing market is due to “mortgage fraud” and people buying homes they can’t afford! And they act surprised and bewildered when this system comes crashing down?! Meanwhile, Chase Bank, a subsidiary of J.P. Morgan, one of the owners of the Fed, is gulping banks and companies for a song and a dance, and letting them feel they’re doing them a favor by stealing them!
The Great Depression was directly caused by the Fed, who held the credit back then, and they are playing the same scenario now. The companies were producing, selling their products, collecting the money from the market and paying it back to the bankers till the people were cleaned out, and the prices of everything came tumbling down. While people were lined up at soup kitchens, fresh produce was being thrown in the ocean, because the people didn’t have the money to buy it! Back then, like now, the major owners of the Fed, the Rothschild’s Bank of England, J.P. Morgan Chase Bank, Goldman Sachs, Citi Corp. and Lehman Brothers were gobbling up all the companies and smaller banks they wanted through foreclosures. Lehman Brothers went bankrupt because it was leveraging its assets by up to 50 times and Goldman Sachs was on its way till Ben Bernanke, the Fed chairman, and Henry Paulson, the treasury secretary, started threatening that if the government didn’t bail them out by putting themselves in deeper debt that could never be repaid, they would face a depression that would make the Great Depression seem like a walk in the park!
So the question remains, what is a castrated bull good for? Fighting! The bulls that charge at the matadors are castrated bulls. They become aggressive and ready to fight. The Great Depression prepared the U.S. to enter World War II, and the Fed gave them all the money they needed. While there was no money for food during the depression, money was available for bullets and rockets and tanks. Israel is holding the flag of Iran and shouting toro…toro, but the U.S. bull isn’t charging — he’s got a credit crunch!